Foster Dykema Cabot & Partners LLC Boosts Stake in ServiceNow, Inc. (NYSE:NOW)

Foster Dykema Cabot & Partners LLC increased its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 63.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 406 shares of the information technology services provider’s stock after acquiring an additional 158 shares during the quarter. Foster Dykema Cabot & Partners LLC’s holdings in ServiceNow were worth $430,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of NOW. Avidian Wealth Enterprises LLC boosted its holdings in shares of ServiceNow by 1.8% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 497 shares of the information technology services provider’s stock valued at $527,000 after acquiring an additional 9 shares during the period. Redhawk Wealth Advisors Inc. raised its position in ServiceNow by 2.2% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 459 shares of the information technology services provider’s stock valued at $487,000 after purchasing an additional 10 shares during the last quarter. Institute for Wealth Management LLC. boosted its stake in ServiceNow by 0.4% during the 4th quarter. Institute for Wealth Management LLC. now owns 2,622 shares of the information technology services provider’s stock worth $2,779,000 after purchasing an additional 11 shares during the period. TBH Global Asset Management LLC grew its position in ServiceNow by 3.8% during the 4th quarter. TBH Global Asset Management LLC now owns 302 shares of the information technology services provider’s stock worth $320,000 after purchasing an additional 11 shares during the last quarter. Finally, Onefund LLC increased its stake in ServiceNow by 2.0% in the fourth quarter. Onefund LLC now owns 552 shares of the information technology services provider’s stock valued at $585,000 after purchasing an additional 11 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In other news, CFO Gina Mastantuono sold 4,442 shares of ServiceNow stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $964.70, for a total transaction of $4,285,197.40. Following the completion of the sale, the chief financial officer now directly owns 11,126 shares in the company, valued at $10,733,252.20. The trade was a 28.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $923.72, for a total transaction of $2,720,355.40. Following the transaction, the insider now directly owns 3,649 shares in the company, valued at $3,370,654.28. The trade was a 44.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,896 shares of company stock valued at $19,568,441 over the last three months. 0.38% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Raymond James decreased their target price on shares of ServiceNow from $1,200.00 to $1,000.00 and set an “outperform” rating for the company in a research note on Tuesday, April 8th. Wells Fargo & Company decreased their price objective on ServiceNow from $1,250.00 to $1,100.00 and set an “overweight” rating for the company in a research report on Monday. StockNews.com lowered ServiceNow from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th. BMO Capital Markets cut their price target on ServiceNow from $1,185.00 to $990.00 and set an “outperform” rating for the company in a research note on Friday, April 4th. Finally, Stifel Nicolaus lowered their price objective on shares of ServiceNow from $1,175.00 to $950.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,057.17.

ServiceNow Stock Performance

Shares of NOW opened at $796.62 on Thursday. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,198.09. The stock has a market cap of $164.90 billion, a P/E ratio of 116.64, a PEG ratio of 4.51 and a beta of 1.08. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The company has a 50-day moving average of $862.65 and a two-hundred day moving average of $971.02.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) for the quarter, hitting the consensus estimate of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. As a group, research analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow declared that its Board of Directors has authorized a stock buyback plan on Wednesday, January 29th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the information technology services provider to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

ServiceNow Company Profile

ServiceNow, Inc provides end to-end intelligent workflow automation platform solutions for digital businesses in the North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. The company operates the Now platform for end-to-end digital transformation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, and collaboration and development tools.